Help to buy equity loan advice

wjr4

Personally I'd see an independent financial adviser if I were him (I may be biased but with a large sum of money it's always best to get advice). They will also be able to help with the CGT

I can't see the new builds around where I live rising in price much as they are at least 20% overpriced (even 50% overpriced!!). An older house is always better in my opinion and I've heard a lot of bad things about new builds (mainly from following people who own new builds on Instagram!). With a large deposit, you shouldn't really have to use the equity loan

Good luck with whatever you decide though and well done saving £20k already!!

Thrugelmir

cw500 wrote: »

.However my partner has been very fortunate to have been gifted a large amount of money held in shares (over £100,000) and now we are not sure quite what to do. Aside from the fact the money is held in shares and would be subject to capital gains tax (another thread in itself!),

Why is the tax liability your partners?

W91

If the shares were a gift, it is probably the person who gave them to your partner who owes the CGT, in the tax year of the gift, whether or not you sold them. Your partner's base cost would be the market value on the date of the gift, so there should not be much latent gain.

If they were an inheritance, the base cost is the market value on the date of death.

I cant think why your partner would have more than a modest CGT liability if they only just got the shares. That would only be the case, if, say, they were shares in an unquoted family company and you were claiming holdover relief. It doesn't sound like that's the case here.

amnblog

As W91 says - If these shares were recently inherited there probably won't be a CGT bill on imminent sale.

You don't incur a CGT bill through inheritance. There may be an inheritance tax bill, but that is not negated by holding the shares.